Coastwise Capital Group LLC Has $639,000 Holdings in 3M (NYSE:MMM)

Coastwise Capital Group LLC decreased its holdings in 3M (NYSE:MMM) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,947 shares of the conglomerate’s stock after selling 87 shares during the quarter. Coastwise Capital Group LLC’s holdings in 3M were worth $639,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of 3M in the third quarter valued at approximately $27,000. McClarren Financial Advisors Inc. increased its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC lifted its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of 3M during the 3rd quarter worth $57,000. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,889 shares of company stock worth $16,893,561. 0.34% of the stock is owned by company insiders.

3M Stock Up 1.8 %

3M stock opened at $154.31 on Friday. The company has a market capitalization of $84.03 billion, a PE ratio of 20.44, a PEG ratio of 3.35 and a beta of 0.95. The firm’s fifty day moving average is $134.20 and its 200 day moving average is $130.37. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $75.40 and a 12-month high of $154.65.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 37.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MMM. Bank of America boosted their price target on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. lifted their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.